The middle east running out of oil could be a very bad thing. Wars could start because of that. It is my understanding that the US really does have a lot of untapped oil reserves. If all the oil in the middle east is depleted and the US ends up being the only place with any significant reserves left, that could possibly paint even bigger targets on us if the rest of the world is struggling to get oil. The US has pretty much followed the philosophy of, lets use everyone elses oil up and then when it runs out, we will be the only ones with any left.